Tag Archives | bursaries

Image by Tax Credits, Flickr

Image by Tax Credits, Flickr

Your post secondary education might be the biggest bill you will have to pay for the next 10 years. At the same time as (if not before) filling in your university application, you need to think of how you will pay the ever increasing tuition fees. There are a variety of sources that can assist you in doing this, from your own savings, to grants, loans and scholarships offered through the government or private institutions.

The Financial Consumer Agency of Canada is a great resource and we’ve found a few pages that will help you out.

First, check out their recommendations on where to get money to pay for school.

The Government of Canada provides a number of programs that can help you pay a portion of your tuition fees through grants, bursaries or scholarships. Whether offered through governments, schools or private organizations, the money doesn’t necessarily have to be paid back like a student loan. Grants and bursaries are generally offered based on need, whereas scholarships are mostly offered based on merit (athletic, academic or other unique abilities).

Here are some ways to find grants, bursaries, and scholarships.

When looking for scholarships, be sure not to limit yourself. Another option is to browse scholarshipscanada.com, a database with scholarships, bursaries, grants and student awards. You do need to sign up for this service, but it is a great tool to not only determine which scholarship you would qualify for, but also to search for advice on how to submit a strong application.

Lastly, remember that saving money comes in more ways than just putting your paycheques into your bank account. Students are eligible for government tax credits which can save you a significant amount every year.

Check out these other relevant articles:

Image by CollegeDegrees360, Flickr

Image by CollegeDegrees360, Flickr

Having trouble paying your tuition? Don’t have time for a job? Good news: there are many scholarships, bursaries, grants and awards that can cover the costs of schooling for you. They are offered by a number of institutions, such as the federal and provincial government, private industry and service organizations, and post-secondary schools. The great thing about grants, bursaries, awards and scholarships is they don’t need to be repaid.

Scholarships

Scholarships are usually awarded based on academic standing or other achievements, including leadership, athletic ability and community service. They can range from $500 to a generous $23,000. There are five kinds of scholarships:

  • Admission (or entrance) scholarships: Awarded upon enrolling in a post-secondary institution.
  • Renewable scholarships: Can be applied to financial debt yearly, if one maintains good grades.
  • National scholarships: Available to students all over the country.
  • In-course scholarships: Given after an applicant’s first year of college or university.
  • External scholarships: Encompasses scholarships that are granted by organizations other than a school. One should ensure his or her school is approved by the corporation before applying for an external scholarship.

Grants

Grants are bestowed according to grades, financial need and academic research projects. One perk about grants is they are offered to as many people who meet the criteria.

Bursaries

Bursaries are presented depending on one’s financial needs. Bursaries tend to be granted to be used in conjunction with other sources of funding, such as student loans, family support and individual earnings.

Awards

Awards are given based on academic merit or accomplishments. They are usually small sums of money that can be applied to one’s tuition or book costs.

Links

The following are links to websites where you can apply for scholarships, grants, bursaries and awards:


Remember you can find out about scholarships, bursaries, grants and awards through your post-secondary school, high school counsellor or online. Employers are an alternative source to check; many organizations offer students financial aid, so it’s a good idea to ask if they provide this service.

Going to school doesn’t have to be a financial struggle. There’s financial aid all around; you just have to look for it. There’s no reason to panic about your finances while going to school.